Puyue New Journey to the Future Cross border Annual Conference, and Pudong Development Bank Successfully Holds the 10th Anniversary of Chaoqi Free Trade

On September 21st, in celebration of the 10th anniversary of the establishment of the Shanghai Pilot Free Trade Zone, Shanghai Pudong Development Bank held the "Tide of Free Trade 10th Anniversary, Puyue New Journey to the Future" Cross border Annual Conference. Leaders and representatives from the Shanghai headquarters of the People's Bank of China, the Shanghai Municipal Commission of Commerce, the Shanghai Local Financial Supervision and Administration Bureau, and more than 50 cross-border enterprises gathered together to review and look forward to the construction and development of the free trade zone from the perspective of deep participants in the free trade fund reform, and imagine a new journey in the future.

This year marks the 10th anniversary of the establishment of the Shanghai Pilot Free Trade Zone. As China's first pilot free trade zone, the zone has always focused on institutional innovation, benchmarking against the highest international standards, highlighting system integration and coordinated development, actively serving national strategies, and becoming a bridgehead for high-level opening-up. In this process, Pudong Development Bank has continuously deepened the linkage development between the Free Trade Zone and the International Financial Center, International Trade Center, and Science and Technology Innovation Center. It has carried out pioneering experiments in areas such as cross-border investment facilitation and financial openness and innovation, and has formed a number of important innovative achievements, establishing a good brand image in the market.

On site, representatives from the government and regulatory departments attending the event delivered speeches, reviewing the development process of the free trade zone over the past decade, highly evaluating the financial services of the Shanghai Pudong Development Bank Free Trade Zone, and expressing blessings and expectations for the future development of cross-border and free trade businesses.

Xie Wei, Vice President of Pudong Development Bank, introduced and shared with the on-site guests the achievements of the bank in free trade finance reform and practice over the past decade. Since 2013, as a financial flagship enterprise and a leading bank in free trade innovation headquartered in Shanghai, Pudong Development Bank has deeply implemented national strategies, actively participated in various financial innovation practices in the free trade zone, fully utilized free trade policies such as free trade accounts, fund pools, and foreign management reforms, leveraged the professional advantages of domestic and foreign cross-border platforms, focused on exploring cross-border business product innovation and customer services at home and abroad, and promoted the implementation of comprehensive and high-level opening of the free trade zone with greater efforts. Pudong Development Bank has issued a total of 300 billion yuan in financing through its free trade account, providing strong support for the construction of key projects in the region, overseas financing for overseas enterprises, as well as overseas mergers and acquisitions by well-known investment institutions and high-tech enterprises. Pudong Development Bank has always been at the forefront of the development of the free trade zone, establishing a free trade innovation laboratory, strengthening product research and development, improving enterprise experience, and achieving significant results. It actively carries out pioneering experiments in areas such as RMB capital account exchange, expanding RMB cross-border use, and foreign exchange management reform. It has landed nearly a hundred market first innovative businesses and is the only joint-stock commercial bank that has been nominated for the Shanghai Free Trade Zone Financial Innovation Case Selection for eleven consecutive times.

Ren Jun, General Manager of the International Business Management Department of Shanghai Pudong Development Bank, was present and introduced the latest version of the cross-border free trade service plan. Shanghai Pudong Development Bank was the first in the industry to launch the free trade zone financial service plan in 2013, and has completed its eleventh update so far. The service plan not only outlines the context of financial reform in the free trade zone, but also fully demonstrates the innovative practices and achievements of Shanghai Pudong Development Bank in the cross-border field, including key scenario services such as cross-border ship management and free trade bonds. Through case review and policy analysis, the development history of free trade business and characteristic financial services are reviewed, fully demonstrating the advantages of Shanghai Pudong Development Bank's free trade and cross-border financial business. Pudong Development Bank actively expands cross-border finance in the free trade zone, leveraging the advantages of group operation to meet various cross-border financial needs of enterprises. Leveraging resources from offshore banks, free trade zones, overseas branches, as well as internal units such as Puyin International, trusts, funds, leasing, and wealth management subsidiaries, it has established a comprehensive financial service model that integrates stock and bond loans, onshore and offshore operations, and domestic and international operations.

At the meeting, Shanghai Pudong Development Bank also awarded the key enterprises present the title of "Important Cooperation Unit for Shanghai Pudong Development Bank's Cross border Business", in order to express gratitude to the enterprises that have been accompanying Shanghai Pudong Development Bank in exploring innovation in free trade financial services for a long time. At present, Pudong Development Bank ranks first in both the number of free trade customers and business volume among joint-stock commercial banks, providing high-quality cross-border services to nearly 5000 enterprises, and leading in the number of service customers in the industry. Pudong Development Bank comprehensively utilizes characteristic services such as FT account services and cross-border fund pools, combined with cross-border advantage products such as "communication, financing, and exchange". With high-quality cross-border financial services, it helps enterprises improve settlement efficiency, reduce financing costs, and avoid exchange rate risks. Many enterprises have also truly enjoyed the dividends of free trade policies and felt the convenience of Pudong Development Bank's cross-border financial services.

In addition, Mr. Zhou Hanmin, a member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference, former Vice Chairman of the Central Committee of the People's Republic of China, and former Vice Chairman of the Shanghai Municipal Committee of the Chinese People's Political Consultative Conference, gave a keynote speech at this cross-border annual conference, sharing in-depth thoughts and suggestions on the development of free trade zones.

With the deepening of high-level opening up to the outside world, the Shanghai Free Trade Zone will play a more crucial role in the process of innovation driven development and the construction of a dual circulation development pattern. Faced with broad development prospects, under the strong leadership of the Party Committee of the Head Office, Pudong Development Bank will resolutely implement national strategies, promote the integration and development with free trade finance, create a golden business card for cross-border business, continue to leverage advantages, actively participate in innovation, lead the industry with professional and high-quality financial services, bravely become explorers and pioneers of financial reform in free trade zones, and contribute to the construction of Shanghai International Financial Center and Free Trade Zone!